Law360 (April 22, 2021, 9:02 PM EDT) — A Bronx-based church challenging the legality of a bankruptcy court’s appointment of a trustee told the Second Circuit that its building was improperly sold below market value to appease a “usurious lender,” and that a judge wrongly dismissed claims that the seizure of several items violated protections for religious institutions.
Bronx Miracle Gospel Tabernacle Word of Faith Ministries and several of its members argued Wednesday that a bankruptcy court’s September order failed to consider claims that the Chapter 11 operating trustee’s business judgment “was completely taken over” by the church’s lender, Newell Funding LLC.
According to court papers, Newell loaned the church $425,000 to…
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